Principal Financial Group Inc. Has $188,000 Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Principal Financial Group Inc. lessened its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 31.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,360 shares of the company’s stock after selling 16,934 shares during the quarter. Principal Financial Group Inc.’s holdings in Joby Aviation were worth $188,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after acquiring an additional 2,889,012 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Joby Aviation by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 193,322 shares of the company’s stock valued at $1,037,000 after purchasing an additional 10,234 shares during the period. Cetera Advisors LLC grew its holdings in Joby Aviation by 32.9% in the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after buying an additional 5,025 shares during the last quarter. DNB Asset Management AS lifted its holdings in shares of Joby Aviation by 21.1% during the second quarter. DNB Asset Management AS now owns 88,906 shares of the company’s stock worth $453,000 after buying an additional 15,504 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Joby Aviation by 346.4% in the second quarter. SG Americas Securities LLC now owns 336,062 shares of the company’s stock valued at $1,714,000 after acquiring an additional 260,780 shares during the period. Institutional investors and hedge funds own 45.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on JOBY. JPMorgan Chase & Co. lowered their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Canaccord Genuity Group cut their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Needham & Company LLC started coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Joby Aviation presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Stock Up 15.5 %

JOBY opened at $8.19 on Tuesday. The stock has a market cap of $6.27 billion, a P/E ratio of -11.70 and a beta of 1.97. Joby Aviation, Inc. has a 12 month low of $4.50 and a 12 month high of $8.43. The company has a fifty day simple moving average of $5.60 and a 200 day simple moving average of $5.40.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same period in the previous year, the company posted ($0.13) earnings per share. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, insider Matthew Field sold 5,643 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $5.96, for a total transaction of $33,632.28. Following the completion of the transaction, the insider now directly owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gregory Bowles sold 26,775 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the transaction, the insider now owns 18,035 shares of the company’s stock, valued at approximately $92,699.90. This represents a 59.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 527,778 shares of company stock valued at $2,683,104 over the last three months. Company insiders own 32.40% of the company’s stock.

About Joby Aviation

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.